NEW YORK, July 31, 2023 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who purchased the securities of Bausch Health Companies Inc. (“Bausch Health” or the “Company”) (NYSE: BHC) between August 6, 2020 and May 3, 2023, both dates inclusive (the “Class Period”).

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Bausch + Lomb Corporation (“B+L”) spinoff would not result in two strong separate companies; (2) without B+L, Bausch Health was left overly leveraged and without the cashflow generated by B+L; (3) distribution of the B+L spinoff shares would not occur as represented; (4) the above statements omitted and/or concealed the potential damages Bausch Health faced from the multiple hedge funds and institutional investors who “opted out” of the class action settlement in favor of pursuing individual claims (“Opt-Out Plaintiffs”); and (5) the spinoff was not intended to benefit Bausch Health shareholders but instead designed to subvert the Opt-Out Plaintiffs’ lawsuit against the Company. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Bausch Health should contact the Firm prior to the September 25, 2023 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

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